Intl cultural trade booms in Shanghai FTZ over decade

A view of the Shanghai FTZ international artwork trade center. [Photo/Pudong Times]

The 8th Shanghai Dialogue - Art, Gateway to the Future Summit Forum was held at Shanghai Tower in Lujiazui area of Pudong New Area on Nov 13.

The cultural sector is one of the six sectors in the China (Shanghai) Pilot Free Trade Zone that first expanded the opening of the service industry.

On the occasion of the 10th anniversary of the Shanghai FTZ, it was announced at the Shanghai Dialogue that the cultural sector of the Shanghai FTZ has driven the total import and export value of antiques and artworks to over 100 billion yuan ($13.78 billion) over the past 10 years.

Data shows that the annual cultural trade volume of the Shanghai FTZ has grown from 500 million yuan in 2013 to the current 35 billion yuan. The total import and export value of antiques and artworks in the area currently stands at 100 billion yuan, and the total number of items in a single year has also grown from less than 100 in 2013 to 6,320 in 2022.

Shanghai FTZ has managed to streamline a complete suite of services including customs clearance, entry, display, trading, agency, duty-free, delivery, and settlement for antiques and artworks. It is now the fastest, most efficient, and most comprehensive import and export channel for antiques and artworks in China.

At the Shanghai Dialogue event, a series of events and ceremonies were held to further empower the cultural industry in the Shanghai FTZ.